Fees include a $400 establishment fee, an Annual Percentage Rate (APR) of 48%, and a Comparison Rate* of 65.4962%.īy way of example, a loan of $3000 over a 3 month period would have an establishment fee of $400 and interest charges of $275.60. Note: The Nominal Percentage Rate for small loans is 0% as the loans are fee-based.Ī medium amount loan is a loan over $2000 and a minimum duration of 62 days. Your monthly repayment amount is therefore $220 per month. We match your repayments to your pay cycle.īy way of example, a loan of $500 over a 3 month period would have an establishment fee of $100 and a monthly fee of $20 each month ie: total monthly fees of $60. Fees include an establishment fee of 20% of the loan amount and a monthly fee of 4% each month.
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Note: We cannot grant credit to informally self-employed individuals, including freelancers and sole traders.ĭownload our free Good for Credit booklet for tips on how to handle credit.Our small loans are $200 to $1600 with a minimum duration of 42 days and maximum of 90 days.
Read more about our credit solution for businesses here. Public (Ltd) or Private company (Pty Ltd). To apply for a business loan, your business must be registered as one of the following: Any original bank statement showing your latest 3 consecutive salary deposits into an account in your name (an over-the-counter bank statement must be stamped). If your name and/or surname differs from your identification document, a marriage certificate, divorce court order or name change letter will be required. Original identification document (must be 18 years or older). Get an online credit estimate to see how much credit you qualify for or get more information about our credit insurance and claims process. This means that the less you owe, the lower your monthly credit insurance premium becomes. Your credit life insurance premium is charged monthly at a Rand amount per every R1 000 of the outstanding balance. 
You choose the monthly installment that suits your cash flow or the option that gives you the best interest rateĬredit insurance is required for credit terms of 7 months or longer to cover death, permanent or temporary disability, unemployment, the inability to earn an income or retrenchment.
You choose the credit amount that you want. How stable your source of income is, to make the best offer. Your income and expenses to see how much you can afford. Your offer is based on your affordability and credit profile Add affordable credit insurance, including retrenchment and death cover. Consolidate all your existing loans for easier monthly repayments. Credit is approved in minutes and the money is available immediately. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Remember that the term will affect your instalments, so be sure that you'll be able to repay the monthly instalments over the whole term. Whether you need to do home improvements, pay for your children's education to secure their future or buy a reliable car to get your family there safely – living better starts when you get credit for the right reasons.Ī personalised loan means that you get the best offer based on your profile and your need, with lower fees and at the best possible interest rate.
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